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. >> very nice. >> all right. aside from that, we'll take a look at upbeat economic news out of china. the purchasing managers index rising to 50.9 in december. highest level since august. the surge also helped speculation the chinese government will take additional steps to support its economy. of the 15 times china's up 3%, since '09, s&p that day is up 13 times. almost every time. despite the futures today, is it a good omen for the markets here? >> look, there was a dichotomy in that government. there were people who were concerned about inflation. and there were people who said, listen, we're not growing fast enough. they do have a lot of levers. if they want to grow, i still -- i've been a bull on china. if they want to do 9%, 10%, they have the ability to do it. all they have to do is have a gigantic sewer infrastructure program. >> that's true. there's going to be an economic war conference held soon. it's believed the government will start to release growth forecast at that conference and perhaps unveil some further stimulus measures or tip their hat in terms of whether they
states, 7% china, 5% india, negative one in europe. in that environment you want to own a portfolio of multinational companies with dividends, global exposure, it will provide as good of a return as anything else when you have bonds and cash paying so low. as long as you understand you're in the seven, 8% environment, portfolio stocks should be part of that. david: let's talk to a guy that says full speed ahead torpedoes. he thinks it will be better than this year was. saying people are confusing pickups for heart attacks in today's market to all these problems are going to seem like nothing when we come to the big gains of next year. you really think that will bear out, and how do you invest with that kinddof optimistic strategy? >> first of all what we have seen with investor sentiment is contradictory to what we've seen with consumer sentiment and business sentiment. when you see negative investor sentiment is not just in the retail side but also the institutional side creating a great potential opportunity for performance. secondly if you take a look at kicking the can down the
debut of the iphone 5 in china as well. nasdaq down by nearly 1%. it looks like it's sitting around the lows of the day. >> something more to watch. next week is a new week, folks. obviously a very difficult day for everybody in america, but we do appreciate you watching "street signs." cnbc will have continuing coverage of your markets, all your post-close news and, of course, what is going on in newtown, concome our hearts and prayers go out to all those people affected by that. "closing bell" is next. >> i'm bill griffith. welcome to "closing bell." maria will be along here in a few minutes at the new york stock exchange, and we add our sentiments as we continue to update you on the horrific massacre at the connecticut elementary school. our deepest prayers and sympathies to all of the families and others hit by this senseless tragedy. the horror of the story may have muted trading on wall street today, as all priorities are being rearranged in a moment, and we will get you caught up on these markets in just a moment, but first we want to let you know. president obama is set to m
. will the president step in? . detroit voted for him, the unions, mr. obama is there, what is he going to do? china is here buying part of the bailed out aig, buying 123 battery company and buying american mansions. that's what happens when china has the money and we've spent all of ours. or losing money can pop up anytime. that's why she trades with the leader in mobile trading. so she's always ready to take action, no matter how wily... or weird... or wonderfully the market's behaving... which isn't rocket science. it just common sense. from ameritrade. i heard you guys can ship ground for less than the ups store. that's right. i've learned the only way to get a holid deal is to camp out. you know we've been open all night. is this a trick to get my spot? [ male announcer ] break from the holiday stress. save on ground shipping at fex office. >> two big stories coming together today in michigan. first off, the new right to work rules will become law tomorrow. the unions are absolutely furious out protesting yesterday and big demonstrations still to come. listen to this. >> and tuesday, they're
. >> turmoil in italy. berlusconi throws his hat in the ring. retail sales numbers out of china, hoping the economy is in fact on an upswing. >> apple, enthusiasm. jeffreys trimming its price target to 800 from 900, as apple shares do trade lower in the pre-market. we'll start with mcdonald's, posting better than expected november same-store sales, global comps up 2.4. u.s. same-store sales up 2.5, offered by breakfast offerings, including that cheddar/bacon/onion sandwich, as melissa mentioned. jim? people are saying the u.s. maybe is making a turn here. >> i find mcdonald's is levered to new products, levered to menu technology. they do invent things. my hat's off to janet. they had this number last week. reminds people, again, they've been right down, and up. mcdonald's is one of those things where joe asked me from squawk when we were talking, i said, i think this is a for real term. if they continue to innovate. i may this may not be your cup of tea, burger, but innovation s higher. >> they tried to sell it to consumers as opposed to their extra value menu, which is a little bit hi
the president takes the airways, but we have to focus on apple. what went wrong in apple in china. where are they huge crowds of people tripping over themselves to get the new iphone five? after all, 300,000 reorders. 300,000. it sounds like a lot, but there are some are calling this launch this news, even a dad. will this further erode the stock which has plummeted 28% since that september? we decided to go beyond this. of the chinese over it? some months, the apple turnout, not at all what it was cracked up to be. investors are voting with their wallets. apple shares are down. just a couple of percentage points. important to know this is trading in a nine month low. add another 4 percent today, the negative comments adding to the selling pressure. the firm cutting its 2013 estimates and lowering its price target. we know that maybe the huge ones are not so huge in china because apple instituted an online reservation system. folks, let's not ignore it. the allies did not even come close to this, the launch of the iphone four in the u.s. when people waited all night long, lines wrapped a
that you or some see as much as a 50% gain on, and that's a whole country, china. china's been beaten down so much over the past year, that some people are expecting a 50% rally. what do you think about china investment right now? >> i'll tell you, ddve, one thing about china that we noticed is every since the national congress went by them, there was not a stimulus coming from them, the stock market got hammered, even though the economic data gets better. they are one of the worst emerging markets so far year to date. with the lower chains of stimulus, investors pull out. money going into is the chinese shares. what are the shares? the hong kong proxy for the market. foreign investors, like hedge funds, short the market, and they are covering shorts now. carson black is a short seller bear own china and he covered all the chinese shorts. right now, there's a noted technician out there in the market, tom demark, a lot of the faster hedge funds listen to him. he said yesterday, you know what? there's a good chance of a 50% jump in shanghai composite. david: where do you put your money? >> t
a big rally in china extending one of its biggest rallies in three years. we have a mixed bag in europe with italy up by about .2 of 1%. >> we'll do our best to keep focused on the business day. we'll be following the tragic shooting in connecticut, of course. the new york stock exchange will hold a moment of silence to honor the victims in the next few moments, and we'll be looking at the president's call for meaningful action and the politics of gun control. >> let's get to a road map for this morning. it starts with apple. under pressure once again. even dipping below $500 a share at some point this morning. shares will remain range bound near term. iphone 5 sales and cannibalization among the region. >> other concessions from the gop, the speaker proposing tax hikes for millionaires. could this be the tipping point. moving the talks beyond deadlock. >> a big week for earnings. yes, earnings. fedex, research in motion among the companies reporting. so finally maybe we'll be talking about fundamentals in the stock market more than just the cliff. we've got to talk about apple reversin
up personal computer sector? >> manufacturing data out of china. not bad. 50.6. that's the highest in seven months. although shanghai again trades lower even europe's pmi improves a touch in november. first up, we're one month away from the fiscal cliff and so far the white house and congressional republicans are still in disagreement over how to reduce the deficit and avoid a raft of tax hikes and spending cuts. yesterday our own jim cramer and maria bartiromo were on "meet the press" and cramer had a message for fellow panelists and father of the anti-tax pledge, grover norquist. >> most ceos are republican. they're on board. they're not on board with you. they're not on board with you because they fear your view. they think you do not favor going -- you favor going over the cliff. that's what they think. they think that you favor -- >> just for the record since we're on tv. that's silly if they think that they shouldn't be ceos. >> it doesn't really matter. that's what they think. >> i want you to walk me up to that moment. >> behind the record. i like that too. >> i'm stuck. li
a million reasons, well, it's a nokia phone, well, it's china. ipad miniis available. this is a stock that's so widely owned. it reminds me of sirius satellite. every doctor, every dentist owns apple. they don't know the price per share, they just know it is the proxy for the market. >> they just accelerated dividends. but i think we're talking now 150 companies in some fashion have accelerated or put forward a special dividend. you put forward a special market share, china is 76, with the market share at least. >> is it a disappointment that apple did not pay a special dividend? is that part of this? >> there was some of that. >> there was some expectation? not that they ever gave any voice to it. they never said a word about it. >> true. >> look, it is widely owned if the stock were -- it's obviously, here's the stock that went from 70 to 50, maybe it goes to 48, 45. everybody who doesn't know what apple is, other than the fact that they use an imac or iphone are selling it. and, look, if you're a hedge fund manager you went from thinking i have to own it, or i have to short it. . >> in
. last, but certainly not least, i think you could see the new leadership team in china come more aggressive reform program than people are expecting. >> all right. michael, good to have you. >> thank you so much. >> michael jones of riverfront. >> financials looking to continue their upward momentum from yesterday when both bank of america and citi hit new 52-week highs. independent research analyst meredith whitney has turned bullish on financials, too. whitney citing several factors including her view that banks are more than adequately capitalized. and guys, the weakest position banks from the crisis are now more than adequately capitalized, thus what they earn going forward, whatever that is, will now be theirs to employ with far greater discretion than has been the case in the past. that's the crux of her note. >> it needs to be listened to. i think we make a little bit much of meredith whitney, to be frank. it's been a controversial call on municipal bonds a couple of years ago that has not been proven correct. she might argue with that, but i think that's in the facts. you
than china. it is a very significant number. we do it better and less expensively. cheryl: a report saying it would be a good thing for this country if we begin to export natural gas. it would be good for the u.s. economy. some, especially in washington, saying it would be a bad thing. it would be a job killer. >> it is hard to me to figure that out. i think we have to find a balance between exports and the cheap fuel in the united states which will cause that energy less dependence. cheryl: it would be nice to see some job creation. janet, of course, we will have you back in just a little bit. "the closing bell" will be ringing 51 minutes from now. natural gas exports may be poised for takeoff. it may have some unintended consequences. find out why dow chemical chief andrew liveris believes the gas surge is a job killer. wait until you hear what he has to say about dividends before year end. his one-on-one with liz claman is coming up. keep it right here. ♪ streamline the process? at fidelity, we it by merging two toolinto one, combining your customized char with leading-edge an
on "varney & company," apple says it sold a record 2 million 3 c1 iphone 5's this weekend in china. still, one citigroup analyst down grades the stock and says it's got a much lower price target. there are also rumblings about orders for its products this christmas. all right, so, nicole, did we break below 500 bucks this morning? >> we did. we broke down on apple shares below $500 for the first time since february. but in that same breath, i can talk about the fact that their iphone sales over in china broke records on the rollout. stuart: okay, but right now, i'm seeing it expected to open around $510 a share. >> right. stuart: but i did see it pre-market at 499. just for a brief spell so we broke below very briefly and now we've broken back up again. >> and you have that citigroup downgrade which just piles on to the other analysts who have lowered their expectations on apple. stuart: and there's a switch. all right. john boehner bends and makes the president an offer and it includes higher tax rates on the rich. boehner's proposal, higher rates on incomes over a million dollars a year
heading into the new year they will be demand owning the iphone in particular is a status symbol in china. >> there were some concerns when the iphone 5 came out on friday, the numbers over the weekend were over 2 million, which is spectacular. so one of the things i am noticing here in this negative news cycle is that everything is interpreted negatively. why were there no lines in china? a lot of the iphone 5 ordering it online. lori: when do you expect them to retrace the all-time high? >> i see no reason we can't see that the next three to four months. lori: i have to challenge you, samsung galaxy phone is very popular, microsoft property, windows 7 has a renewed impact, the new app store having the itunes and leadership, tim cook and the whole maps issue is a credit debacle. >> the only competitor out there is samsung that matters. lori: what about tim cook and not a lot of interest in the pipeline? >> tim cook has led the company for several years. so now it is all on his shoulders. when i think about new products, apple tv on the horizon, apple will dominate the tv market over th
about china electric demand being strong. remember, they make coal machinery, depending upon how much electric demand there is in china, his orders go up. that's why i think people are surprised the stock eel not down big, given his concerns throughout the near term. >> comments, the buybacks continue. >> now, i begin to say, wait a second. one buyback, maybe -- too much coincidence here. you have the news out of joint global. i think people are starting to say this fourth quarter's an inflection point for china. less worried about inflation, more worried about pro-growth. cummins is a uniquely chinese story. so many truck engines go there. let's keep track of this. >> a lot of people say if you've got gdp growing again and inflation as low as it is, that is the sweet spot, that is where you always want to be. >> india came out with global stuff. coal, i know, we're only used to seeing coal phased out in this country. they love coal in china. i don't want to make a judgment on whether that's -- but they are huge coal plant builders there. huge. >> an important one to watch. we'll talk
market, the shanghai composite in china, closed well below the markets opened but here are some names posting solid gains when it comes to the steel world. optimism on china coming back giving the steel sector boost. prices for iron ore hitting a decent high lately, not a bad move, translating to a lot of names in this space for a while it looked like the economy was weakening and now it is coming back. dave: we want to let you know we will throughout this hour ridge you -- give the regular updates on a horrendous shooting in connecticut. that is coming throughout the hour. liz: how about alternative investment? putting money behind a pop culture icon. we are looking at other ways to make money than stocks but what about judy garland? the rights to her tv show are up for auction. did you know the rights and royalties of an investment can return 8% to 11% on average? better than a kick in the head. we have the man who is selling rights that he bought from judy garland's former husband. dave: today is the deadline for states to say if they will set up their own health care exchanges or
in china are strong. when on friday some reports suggests otherwise. >> john ford is here now with the story. >> two conflicting story lines on apple collided today. one has apple ordering fewer iphone 5 parts which has a less than stellar start to 2013. the other is suggesting demand remains strong in apple's most crucial market for the iphone. the question here is are we at the beginning of a radical global slowdown for the iphone and ipad? half a dozen analysts believe to think so. believing that the iphone 5 parts have cut their price targets in recent days. the idea is that apple is ordering fewer parts for the months after the holidays. the problem with this theory though, demand still looks strong for the iphone 5 given the launch where apple couldn't make phones fast enough. and china did 2 million iphone 5s. europe is week. but with demands elsewhere looking healthy, some numbers at least seem to be going apple's way. the question is whether samsung and amazon are meaningfully zapping the apple products. >> all right, jan. thanks so much. >> we've got both sides of th
china and europe it was on a year ago that italy and greece would be following in disaster. of course, they subsequently turned out to be the single best places to invest for fixed income in the world. not only did the sky not fall, but you had to do some serious buying to keep up with the others around the world. that's still the case. we have been buying an etf for my travel trust. was there a more uniform agreement than the idea that the euro had to die and the weaker countries were going into a depression? i think they'll have slow growth for years. we know a ton of countries that could do very well in a low-growth environment. a year ago all the wise guys were telling us to avoid china because it was a house of cards. the course only grew more uniform through the summer and fall with the chinese market falling to multiyear lows. but in the last few weeks, china's economy bottomed during the summer as they were focused way too much on beating inflation. now it's become the best performer in the world, and i don't think you've missed the move which is why my trust has been buying a
obviously focus on is china. in september, they approved infrastructure projects. love the way the stocking is acting the last couple of days. dagen: you are bullish on the global economy. charles: for a while now. connell: you are not worried about china athol? charles: i think china is going to continue to be on a roll. i am also impressed with brazil, indonesia and turkey. the rest of the world really doing extraordinarily well. connell: we like when you go global on us, charles. what do you use, google maps or apple? charles: stuart varney is probably better than me when it comes to these smart phones. connell: i do remember when you got away from the flip phone. charles: that is only because i left it in the green room. i heard someone from the smithsonian came up. dagen: charles, thank you so much. connell: let's go to this google graphic story. it is a very popular app. let's put it that way. we will talk about that coming up. more from washington, the house speaker ready to put through his own legislation. >> our hope continues to be to reach an agreement with the president what we
. ultimately it helped to work. a lot of people supported that. people say, apple, they do business in china. these workers are virtually slaves. i will never own the stock. if that is the case they missed out on an investment unless they bought two weeks ago, an investment of a lifetime. so where do you find the way to draw the line? i've got to tell you something, this thing is urban outfitters is more reflective of society, not a company of really the have garrity in society today amongst young people is at the point where i talk about this all the time. i think pendulum has swung so far it can't get much further. lori: do you the think the stock surge up 34% year-to-date, urban outfitters because of shocking nature of stuff? kids in way to rebel and spicy putting it as nicely as i can? what is going on with the store that is generating interest? >> they are ahead of the curve. real hip store called supreme. they have a location in l.a. and soho. urban bought them. it was a brilliant move. this was underground success. they sell it throughout everywhere. it is a real smart retail play. i
in one day. two reasons, the iphone slips in china, got it, but investors are taking their profit now because they don't want to pay the president's higher stock profit tax next year, big deal. the president has now drawn two lines in the sand. no to a debt ceiling, he wants a blank check and he's not backing off and yes on tax rate hikes, no compromise from the white house. wait until you hear the latest from ed asner. he voiced the teacher union cartoon where the rich urinate on the poor. who does he want to urinate on now? watch out, everybody, "varney & company" about to begin. ride . she knows the potential for makingr losing money can pop up anytime. that's why she trades with the leader in mobile trading. so she's always ready to take action, no matter how wily... or weird... or wonderfully the market's behaving... which isn't rocket science. it's just common sense. from td ameritrade. well, having a ton of locations doesn't hurt. and a santa to ot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announcer ] break from the holiday stss. fede
that was doing fabulously in china and making up for all sorts of north american weakness. that had been the theme for a couple of years. now it's just the opposite. people are concerned about the inventory building in china putting a lid on the stock. now, i am looking for a lid to be blown off by a turn in china eventual l. maybe not this quarter. while the u.s., i think, is strong because of foot locker, but some analyst came out today and said u.s. is even weak. remember, nike trades on futures orders, not on earnings. so if you're dumb enough to want to trade in after hours, be aware, you might be trading on the wrong number. friday. these are big brand names. what a big week next week. friday we get results from walgreen's. i feel badly for wag. we just heard from cvs yesterday which boosted its numbers. that's a tough comparison to go against. i don't know how walgreen's can keep up. i will say this, though, the drug stores have been in secular share take mode from other stores, which is one reason why cvs was able to deliver such a strong number p. and i think walgreen's will sho
. charles: not yet. stuart: investors are character out on apple losing market share in china and samsung stepping in and fox and friends host as resident tech guru, here is the question, clayton, has apple lost its cool? and also, netflix in trouble with the sec over facebook status, what? find out why after this break. ♪ [ male announcer ] this is karen anjeremiah. they don't kn it yet, but they' gonna fall in love, get married, have a couple of kids, [ children laughing ] move to the country, and live a long, happy life togeth where they almost never fight about money. [ dog barks ] because right after they get married, they'll find some retirement people who are paid on salary, not commission. they'll get straightforward guidance and be able to focus on other things, like each other, which isn't rocket science. it's just common sense. from td ameritrade. ♪ [ engine revs ] ♪ [ male announcer ] oh what fun it is to ride. gethe mercedes-benz on your wi list at the winter event going o w thugh december 31st. [ santa ] ho, ho, ho! [ male announcer ] lease a 2013 e350 for $579 a month
with the democrats. dagen: apples weekend in china. new iphone sales top 2 million units. connell: $3.24 a gallon. these are the best prices we have seen all year for gasoline. a very, difficult day and weekend for many around the country. dagen: it will be a difficult week, month and many years to come as we try to deal with these shootings in newtown, connecticut. we will bring you up-to-date about any news as we get it. you'll hear about it in the fox news minute coming up in just a short while. connell: the business news of the day. we will begin with nicole petallides at the new york stock exchange. good morning. nicole: we did have a moment of silence for those in morning. our nation is in morning. let's take a look at the names on the move this morning. you can see some accelerated selling. 13% to the downside. it has been virtually flat. clearwater for $2.99. it is even below that particular level. we knew that sprint are ready to part of it. here is some economic news. not that great. it was down again. five months in a row. in japan, they had a big election. a lot of people have been ho
than 2 million in iphone 5s in china just over the last three days. that's the best ever debut for the iphone line in china. apple is china's second biggest market, although it did lose a lot of market share while they were waiting for that i5 to come out. and citi research has downgraded apple from a hold to a buy. you can see there just below $500. >>> also, the national association for business economics growth in 2013 to come in at 2.1% after growing by 2.2% in 2012. that would continue the same tepid growth that the country has seen since the recession ended back in mid 2009. >>> and the nation is mourning the horrific event of friday in newtown, connecticut. president obama spoke last night about change. >> we can't kol rate this any more. these tragedies must end. and to end them, we must change. we will be told that the causes of such violence are complex, and that is true. no single law, no set of laws can eliminate evil from the world or event every senseless act of violence in our society. >>> and earlier in the day, new york city mayor michael bloomberg called on th
in europe a year ago versus today, particularly exporters with china maybe turning a little bit. i just think an awful lot of money has left that area. if any of it starts moving back, and maybe that's what we're seeing, it's a nice place to be. the trick is you have to be there before the turn. >> hey, bill. >> yeah, rick? >> with citigroup cutting 11,000 jobs, austerity makes their stock run up. i'd like to know what our guests think if many of the others are going to be cutting. investors found something golden in those cuts. >> it's true because the stock goes down real quick. you like the financials? >> we're kind of agnostic. sorry, maria. >> sounds like you don't like them. >> we're underweight. >> mark, quickly. >> we are underweight financials. we've moved to more of a neutral weight. citi is one of the names we're overweight. it's a shame for the folks who have lost their job, but it's a nice move today. >> 7.5%. bank of america, 6%. thanks, guys. >> thank you very much. see you later. as a matter of fact, the financials are leading us higher. we're near the highs of the sessi
the fiscal cliff. they are looking at hey there's no hard landing in china. europe didn't fall off the map. the u.s. didn't go into recession. we didn't have worldwide food inflation. maybe there's a reason to be constructively bullish on this market. liz: wasn't 1442 supposed to be that support level? >> it is a support level. below that though 1430. that is a key level. i think people are squaring up because hey, we don't know what will happen overnight, but by in large, the market is pricing in that something will get accomplished, but hey, if i was standing in that pit right now, i'd go home flat as well but you'd never know. david: i won't tell those guys about the asteroid that's planning to hit at 12:00 midnight. but that's a whole other story. larry, great to see you. liz: david you just panicked half of our viewers. oracle beat on the top and bottom line. let's head back to nicole on the floor of the nyse. nicole: i have been talking with traders taking a look at the stock in the afterhours. it is a winner. we're watching oracle on the move to the upside, beat on both top and bott
in high china, hong kong, and singapore. dennis: the myth is, the china, doing knockoff wines, but this is an inside job. your own brethren. >> not mine, but the expensive wine side, it's within the u.s. and europe, and it's guys who are in, you know, really into wine. dennis: prominent dealers? >> current case, fbi is charging a guy, a well-known collector, sold wine in auctions, turns out a lot of the wine may not have been what it was claiming to be. dennis: three bottles here, counterfit bottles, guys, and see if ray points out what makes then counterfeit. a nice 1923. >> yes, a 1923, would be $30,000 at auction. it would sell either way, but look at the symbol, the red dot, they always stamp dark and red. this is much too light. that's an insider thing. dennis: the bottle, the glass -- >> the glass is real. they got a less expensive wipe from the 1920s, 30s, refilled it with different wine, slap the label, and faked the label, and then, you know, tried to sell it for a lot of money. dennis: a couple other pictures comparing counterfeit with the real thing. other general t
. stay with us. ♪ [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global onomy. is just one reason over 75% of our mutual funds beat their 10-year lipper average. t. ro price. invest with cfidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. >> i'm robert gray with your fox business brief. t-mobile is finally getting a bite out of apple, adding the tech giant's products to it next year. deutsche telekom didn't mention specific products. ipad and iphone are only products offered. >>> hasbro is latest company moving up payment of its quarterly dividend to avoid higher taxes for shareholders. the dividend payment of 36 cents a share will be sent to shareholders this month instead of next year. >>> general motors is planning to hike prices in india by as much as 3% in the new year. the automaker says the incr
pods losing market share. iphones just not doing that well in china. there it is. back in the green. let's take a look at the major market averages. the dow jones industrial average is up. the nasdaq is also in the green, as well as, the s&p 500. daaen: thank you. connell: dan had injured reporting that he will be leaving his post next month. >> the opportunity presented itself. this was the moment to either take this job or not. i think he felt with the senate transitioning into a new year this was the moment to make the move. he took it. connell: it would have been a six year term. this is early. >> it is a reflection of the frustration. i think it probably would have won the election, maybe this would not have happened. now, with what we have seen, with the fiscal cliff, it is virtually impossible. i think that senator demint can do more running the heritage foundation the way she would like to rather than sitting in the senate. dagen: does this also speak to him resigning from the senate, the power of the tea party, perhaps? >> i do not know it is the waning power of the tea party. i
be on the the way, they've got one already, how is that working out? and china may be the number one economy soon. really? "varney & company" about to begin. >> right off the top, breaking news for you now. fox business learned that a group claimed to be aligned with terrorism is threatening to launch a massive attack against u.s. bank websites and made that threat in the fall and this is a new threat set to start this week, we hear. and a list of banks targeted includes j.p. morgan chase, bank of america, u.s. bancorp, pnc financial services and suntrust banks. more details when we've got them. the power and might of unions on display today and being tested. you will see huge protests at the state capital building in michigan where right to work legislation will be signed today. that means workers will be able to choose if they want to join the union. they will no longer be compelled to pay dues. here is the president speaking at a daimler factory in michigan yesterday. >> we do everything we can to encourage companies like daimler to keep investing in american workers. and by the way, what we
.5%, after looking at the food turns out kfc in asia and china supplied with chicken that contained excessive antibiotics as reporting the administration's sentiment, facing intense competition and forecast sales that were going to be lower, taiwanese chicken, they have been tense competition. here is the part that freaks me out for lack of a better term. eight of 19 baskets of the chicken samples were sent to the testing laboratory in 2010-2011 that contained overly high levels of antibiotics. this was going on for an extensive period. eight of 19 badges, less than half of the badges, that is a good percentage you will get these chickens but too many antibiotics. stuart: that is why stock is down, the china market is the most important market for yum brands. that accounts for the stock rise recently doing well and pulling back because it has a problem with chicken in china. we hear you, thank you very much. the dow jones averages back to a loss, triple digit was down 107 points after john boehner made his presentation half hour ago the dow came from 122 down to 88 down and now back to 105 do
-grade up about a percent. decent data out of china. define beautifully. now we're back about 1700 for gold, but where does it go for here? >> you can see gold over the next year we could see it very definitely outperforming equities to the tune of two to 3%. if equities put in a positive year next year, which would be a bit of a surprise given the historical data that would support a negative performance and given the fact industrial production is sweeping in the eu, gdp in the u.s. has hardly been status. it seems to be with guidance what is is in earnings what they are, i think you could see gold definitely outperform equities two to three multiples. if the fed continues its current policy of supporting risk. david: which they probably will. let me reach on backend because following commodities as close as anybody. john, what do you think of that, is it conceivable in 2013 we may see commodities, particularly cold do better than or maybe even twice as well as equities? >> i think there's little doubt that will happen, david. i would throw into the argument that we live in a world right n
you. dagen: a new report by the u.s. intelligence reveals china will have the world's largest economy by 2030. the councils global trend report takes into account factors such as localization and the environment. europe, japan and russia are also expected to continue to decline. connell: a matter of time, as they say. this fox business exclusive, we will talk about the war on business. it was a record year for anti-trust funds. dagen: the sanctions against iran. if this policy will change anything over there. the state of the economy and why it matters to you and this, the cost of crude oil. take a look at it. more than $86 a barrel. stubbornly high. ♪ >> announcer: you never know when, but thieves can steal your identity and turn your life side down. >> hi. >> hi. you know, i can save you % today if you open up a charge card account with us. >> you just read my mind. >> announcer: just one little piece of information and they caopen bogus accounts, stealing your credit, your money and ruining your reputation. that's why you need lifelock to relentlessly protect what matters most...
was this china pmi number. i know gordon chang has been on. dagen: yes. we were there. charles: a lot of people do not believe the china story. this number to me tells really nice with other things. dagen: most people already own it in their 401(k). charles: you are absolutely right. the stock is down pretty big from where it was. this last quarter was a disaster. north america construction was up. almost everything should go up next year. i love the risk reward on this. connell: this will be a huge story whether china is about two, you know, come back or collapse. charles: a minimum of 8.5% next year. we would take it in a heartbeat. dagen: deceleration is dangerous even if you are still going at 8%. connell: thank you, charles. appreciate it. dagen: we are. on saturday morning. connell: umbrella. no changes to the tax structure. dagen: more on the impact of the fiscal cliff. women are worried about it. there will not be spending that much on it on you. they will probably be spending it on themselves. a look at how the world currencies are very against the dollar today. ♪ there is no mass-pr
it hits for china markets. in all likelihood you'll see a rally. >> if you don't want emerging market debt, you can buy this and get the exposure? >> that's absolutely correct. you don't have the same accounting concerns. you buy multi-national u.s. global companies with better accounting control. >> michael, thank you very much. >>> gold prices are on the down side for this week. it's been kind of a brutal week for the precious metals. final floor trades in metals being made right now. live coverage of the close is coming up on "power." >> announcer: cnbc program is sponsored by mercedes benz. ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local mercedes-benz dealer. and his new boss told him two things -- cook what you love, and save your money. joe doesn't know it yet, but he'll work his way up from busser to waiter to chef before opening a restaurant specializing in fish and game from the great no
happened in china with them canceling orders for soybeans highlights the fact there may be cooling off going on in china. that exacerbated a selloff in the agriculture commodities and that translated to a selloff in gold and silver as well. what's interesting to note are some reports out from firms talking about what happened in commodities overall. so far this year we have seen losses overall for commodities sector. gold, though, has fared pretty well up 7% year-to-date. back to you, sue. >> thank you so much, sharon. let's bring in jeff kilberg. i know a lot of people are longer term quite bullish on gold. why are we see this pressure taking it apolo the 1700 mark. >> well, sue, i think we saw a knee-jerk reaction initially when boehner came out with plan b. that technically got the ball rolling to the downside. keep in mind one week away from christmas. these holiday markets you can really get pushed around. traders have to be aware on thin volumes. came down to the november 5th low, new low on the close, 1670. right now i think they are stripping out the inflation in gold and reall
noting quote that recent soft china same store sales and resulting uncertainty provide a good entry point, shares of yum down more than 6%. >> inflexion point. doesn't that say it somewhere? >> inflexion? >> china, inflexion point. >> they need antibiotics. >> no, not that kind pf. >> oh, not that kind of one. >> so the stock will move based on increasing internal consumption. >> so you like the upgrade? >> i like the upgrade. >> jason is upgrading vera bradley. nice bags. very nice. we expect top line and continue that margin are are at a positive inflexion point. >> forget the inflexion point on this one. >> i think is concerning stock for me. they have been guiding revenue on see things down. they have a problem with inventory. i'm not a fan of this stock. >> the bagses, though. nice bags. >> they are nice bags. we will get you one for christmas. >> good to see you, man. all right. sue? >> you guys are having way too much fun up there without me. i'm getting jealous. let's go to sharon epperson. gold market down more than 20 degrees, below the 17 mark. sharon, how does it look? >> we'r
,000 stores in the next five years. that was yesterday. growth overseas is picking up. china and asia pacific will have nearly 4,000 locations by the end of 2013. shares of the company up about 20% over the past year, nice move there but off the highs of the year. so we have these worries about the fiscal cliff, they seem to be holding, the markets or at least the psychological of a lot of investors hostage. so once the dust finally settles, what's the s&p's next move? joining us now in a fox business exclusive, not just the s&p, bill, right? bill strazzullo's joining us, chief market strategist at bell curve trading. good to see you. >> good to see you, liz. look, i think -- go ahead. liz: no, i was just going to say, you know, it's not just the s&p, but, of course, that's the broad indicator of what a lot of people look at and invest in, so how should they be viewing this on a day-to-day basis? >> the first thing you have to do, liz, is just be very disciplined. we've had a really nice run mapping out buy and sell levels and not getting caught in the between moves. for instance, right after
that well to suddenly, an inventory glut of shoes with china, maybe north america can make up with it. nike remains a great growth company, a lot of cash, good dividend. i think if it gets hit, unless they can -- remember, china is coming back. so, theoretically, that's what the stock market upped the most since august 2010, it comes back, then nike represents great value. >>> when we come back this morning, a lot more on that deal of the day intercontinental exchange buying the nyse parent, nyse euro next, a live interview with the ceos of both of those companies. meantime, take one more look at futures after the worst day of the month yesterday. futures rebounding a bit. a lot more from squawk on the streets, post nine, at the nyse, when we return. st >>> herbalife is one of the stocks to watch this morning after bill ackman says he is shorting the stock, calling you the company a pyramid scheme. ackman will outline his herbalife argument at an investment presentation in new york city herbalife ceo defended his company yesterday on cnbc. >> this is about bill acman's business model. this
, interesting day here once again. it is moving higher on better than expected iphone5 numbers in china. 2 million sold there. morgan stanley pounding the table. ipad and iphone demand remains robust. you need to own apple into the early part of 2013. earlier this morning, first, on the flip side, you have citigroup saying they are downgrading apple. my phone suppliers have cut back on some orders. attention, that donald's shareholders, here, i have one. i will put it on ebay. the race is officially over. we are talking pork, pickles, onions smothered in barbecue sauce. mcdonald's a widely held stock in light of your portfolios and 401(k)s. they bring it back every year for a limited time. look at what it is doing for the stocks. it is up one full percentage point today. it has been kind of a rough couple weeks. the fabulous mcrib, i do not know, is it really a rib? let's get to the floor show. [ laughter ] traders at the new york stock exchange, cme aad the imax. >> i was forced to do one for another network last year. liz: they are super popular, at least when it comes to the stocks. onc
at a certain point. connell: are you worried at all about a slowdown in china? charles: europe is up. japan is. they will need natural gas and coal. global demand for this will be huge. this is one that i think people should own long-term. dagen: thank you. charles: by the way, i loved your interview with representative sanchez. dagen: thank you, charles. connell: a quarter past the hour, let's go back to the markets. nicole: we are looking at it now. they are digesting a big acquisition. as i noted, this is a top performer. it is up over 4%. let's take a look at the broader orchid and -- let's take a look at the broader market. the last time we saw this kind of trend it was up seven days. the dow is up. back to you. dagen: at it again. north korea launching a rocket. legitimacy of the regime. we will talk about that coming up. connell: to the stage for similar seeds in different areas of the nation. first, let's take a look at world currency. ♪ there is no mass-produced human. every human being is unique. and there is one store that recognizes it. the sleep nuer store. the only place in the
in china, better economic data out of brazil, improving things in india. looking around and finding not double digit opportunities but single-digit opportunities in what is going to be a tough year fundamentally. dennis: last quick answer, let's say we go over the cliff do stocks tumbled on that? should you buy? >> of course stocks are going to go down. look what happened when they voted down the initial t.a.r.p.. look what happened in the first negotiations. the market will trade down if we go over. is a matter of coming back to the drawing board and coming up with ordinary term solution. if that happens stocks will rebound. dennis: thanks very much. gentlemen. cheryl: apple is in the news today. u.s. patent authorities rejected apple's claims about its hinge to zoom feature, a big setback. you can see the feature on your screen. allows you to use your fingers on the screen to zoom in or out. in august 8th jury ruled samsung had infringed on patents and awarded apple $1 billion in damages. this newest and authority, wipes out at least part of that settlement. will get shares of app
say it was china that got it started, but it was interrupted by president obama. nicole: why do you think december, traditionally, we know for a fact, december is the best performing month since the year 1950. >> it is the end of the year. windowdressing. money pouring in that may have missed the market already. it is also self-fulfilling prophecy. all of those add up to the same reason. it is also the retailers posting their seasonal sales, etc., etc. that would be most of the main drivers. nicole: there is optimism here on wall street. of course, everyone waiting on the fiscal cliff here in washington. have yourself a very merry christmas. they did a great job. tracy: we have to get that on air. ashley: great voice, also. thank you. see you in 15 minutes. tracy: president obama focusing on keeping the entire country from going over the fiscal cliff. one person directly asking the president for a bailout. gerri willis has the latest. gerri: she says they are owed. wayne county voted 75% for the president. listen to this. >> our people, overwhelmingly, supported the president. there
without a visa. china's going to allow foreign visitor to stay in way ginning for -- beijing for three days if they're heading into another country. but you have to buy a lot of stuff. [laughter] console, energy and qt production company have submitted multimillion dollar bids to drill for natural gas and oil on land surrounding pittsburgh international airport. the drilling revenue would reduce gate fees which could lead to cheaper flights. pan tone which -- named emerald as 2013's color of the year. the time has come, and that's today's speed read. liz: emerald green. the parent company of the toronto stock exchange is joining forces with the maple group in a move that is enabling the company to expand it product offerings. david: tom kloet is the see crow of -- ceo of tmx group. what a pleasure to see you. you're an american, by the way. >> i am. david: they brought in an outsider. there are a lot of similarities between canada and the u.s. but some very distinct differences, and one of them involves the markets. you are the main equity and clearing facility. you have everything in
.o. of big caterpillar equipment and talk about what's going on in china and i hope we get back to that. you're right that's all we're talking about instead of talking about caterpillar and what you do well as a great company. >> thank you. again, every time i come to the floor it's the hub of our greatness in this country of business. it's why we're here. it's really fun and exciting and let answer get into '13 and get into real things. i'm with you, joe. >> i know, but this deal has to play in peoria. >> it will play. >> compared to what you got in illinois now anything looks good. thanks. >> okay. >>> the executive chef tpz at jpmorgan the bank naming two chief officers to oversee things like anti-moneying. kayla tausche joins us. >> the person to watch everyone watching is looking at jez staly, he was chairman as of july largely viewed as a swank song role that rivals have taken note of. there were discussions over the ceo at legg mason, the baltimore asset manager. the talks fell apart and staly was the top of the short list for the board and recruiters after being serious talks for the
'll be right back. [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. ro price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. lori: research in motion bested by competitors like samsung and apple but could a comeback be on the horizon? today's earnings release could provide a clue. shibani joshi is here to talk about this. >> this is important quarter. calm, not before the storm but big unveiling. blackberry 10 will come out in january. here is what we expect at the close. loss by the company. revenue $2.65 billion. normally we pay so much attention to how many device this is company sells, unfortunately the trend is not this company's friend. device sales down 5% and 25% in the last two quart
the stock, says its recent problems in china, only temporary. at this price $68 a share. 68 they say heading higher. goldman is downgrading darden restaurants. t it says -- it says the turnaround at olive guaarden is slow. it is down. boston beer makes sam adams beer, it expects to make more money next year, simple reason it is selling more beer. the stock hit all-time high today. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. stuart: the federal reserve is going to start tying interest rates to the unemployment rate. ben bernanke says he will not raise interest rates until unemployment is down to 6 1/2%. there's the link. all rise, judge andrew napolitano. i haven't even got his name out and he is shaking his head. what's so wrong with the federal reserve saying l
since april of last year. the trade gap with china did hit an all-time high. will fred industries is the latest offering special one-time payments. the company is boosting its quarterly dividend 20% to 16 and a half% a share payable on december 28. the website planning to streamline its operation and focus its resources on engagement innovation and customer satisfaction. that is the latest from the fox business network. giving you the power to prosper. ♪ with thinkorswim by td ameritrade. use the news links breaking stories with possible breakout stocks, options with potential opportunity, futures and forex with in-depth analysis. it an all-you-can-eat buffet for all things trading. thinkorswim by td ameritrade. it doesn't just deliver news. it's making news. trade commission free for 60 days, plus get up to $600 when you open an account. governor of getting it done. you know how to dance... with a deadline. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price.
, not only the united states, japan has been easing china has been easing and around the world easing and you would expect the gold to be higher. stuart: you would. paper currencies are not worth what they used to be worth. the euro, for example, the u.s. dollar, for example, the british pound. i mean, this is paper currency under threat. at times like that, you expect gold to go straight up. well, it it had a nice run, but now, even though the fed is printing and printing and printing and the japanese and the europeans join in, the best answer you've got there are more sellers than buyers? >> in terms of monetary easing, the general expectation for inflation down the road. gold would be steady and rising, it's not. that's because gold is now a tradeable asset class. it's no longer a hedge and what it used to be. and the decoupling because they're selling it as they would any stock, etf, or apple. and there are sellers than buyers because of year end sellers and pressure hedge funds have been experiencing and selling off winners. gold is seeing some of the same thing. >> that's interesting, g
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